Comments include: CBRE, CVX, DDOG, DELL, DG, FMC, GM, JNJ, NET, ORLY, PANW, TMUS, & VAL.
| CBRE CBRE Group, Inc. ($141.87) - Real Estate - CBRE fell Wednesday to break a double bottom at $142. This also moved the stock to a negative trend and demotes it to a 2 for 5 TA rating. The technical picture is now weak and deteriorating. Further support can be seen from $136 to $130. Overhead resistance is seen initially at $156. |
| CVX Chevron Corporation ($212.57) - Oil - CVX gave a second consecutive buy signal Wednesday, when it completed a bullish catapult at $212, matching the all-time chart high it reached in March. Wednesday's move adds to a modestly positive technical picture as CVX is a 3 for 5'er; it has also pushed CVX even further into heavily overbought territory as it now has a weekly OBOS reading north of 100%. |
| DDOG Datadog Inc Class A ($209.23) - Software - Share of DDOG broke a double bottom at $216 for its third consecutive sell signal while also violating support from June. The 3 for 5'er lost near term market relative strength in June, placing it in hold territory for time being. Those with positions should hold on for now but should watch for further weakness. Initial support lies at $194 while previous resistance at $200 could serve as support too. |
| DELL Dell Technologies Inc Class C ($494.69) - Computers - Shares of DELL rocketed 15% higher after reporting strong earnings, moving back to a buy signal on $480. The 5 for 5'er has been rangebound over the last couple month but remains an extremely high relative strength name to own. From here, initial support lies at $424 then $360. |
| DG Dollar General Corp. ($133.13) - Retailing - DG broke a double top at $134 for a fifth buy signal since June. This follows the trend flipping back to positive, which increased the stock up to a 3 for 5'er. DG also shows positive long-term RS against the market and its peer group, while currently ranking within the top half of the Retailing sector matrix. Okay to consider here on the breakout or on a pullback to the upper to mid $120 range. Initial support support lies at $122, while additional can be found in the $114 to $118 range. |
| FMC FMC Corporation ($13.30) - Chemicals - FMC gave an initial buy signal Wednesday when it broke a double top at $12. The outlook for the stock remains decidedly negative, however, as FMC is a 0 for 5'er that ranks in the bottom half of the chemicals sector matrix. From here, the first level of support sits at $10, while FMC faces overhead resistance at $16. |
| GM General Motors ($84.98) - Autos and Parts - GM reversed into Os and broke a double bottom at $84 for a second sell signal since peaking in the lower $90s in July. The move for the current 4 for 5'er brings the chart down to test the bullish support line, which would be violated with a move below $83. Beyond current support, additional may be found at $79 and $75. |
| JNJ Johnson & Johnson ($275.70) - Drugs - JNJ reversed back up and completed a double top break at $280, marking its seventh consecutive buy signal and a new all-time high. The 3 for 5'er ranks in the top third of the drugs sector matrix. JNJ is still rated a hold, so continue waiting for further technical improvement before considering. Initial support is at $264, with additional support at $252. |
| NET Cloudflare Inc Class A ($271.16) - Internet - Shares of Net fell around 5% on Wednesday, moving back into a negative trend for the first time since April of this year. That said, the now 4 for 5'er continues to display relative strength, keeping it in buy territory for the time being. From here, initial support lies at $252 then $240. |
| ORLY O'Reilly Automotive, Inc. ($86.92) - Autos and Parts - ORLY broke a double bottom at $87 to end a series of buy signals that began in back half of July. The move also violates the bullish support line, which will drop the stock down to a 2 for 5'er. Support lies at current levels, while multiple other levels can be found in the mid $80s down to $83. |
| PANW Palo Alto Networks Inc ($326.51) - Software - Shares of PANW fell around 10% on Wednesday after earnings to move back to a sell signal. That said, the 5 for 5'er continues to look very strong, holding its peer and market relative strength while trading in a positive trend. Investors should continue to hold but should watch for further weakness. From here, initial support lies at $312 while previous resistance at $300 could serve as support too. |
| TMUS T-Mobile US Inc. ($186.86) - Telephone - TMUS breaks back into a positive trend with today's action. With the move, it will earn its third technical attribute, suggesting it is now at least "technically defendable" by the book. With that said, there is still a barrage of resistance above current levels, and there are certainly more attractive 3/5'ers out there. With that said- hold off on TMUS for now. |
| VAL Valaris Ltd. ($92.00) - Oil Service - VAL returned to a buy signal Wednesday when it broke a double top at $92. The outlook for the stock remains unfavorable, however, as VAL is a 1 for 5'er that ranks near the bottom of the oil service sector matrix. From here, the first level of support sits at $84. |
